M&A - Latham Group, Inc.

Form Type: 10-Q

Filing Date: 2025-05-07

Corporate Action: Acquisition

Type: New

Accession Number: 000155837025006608

Filing Summary: Latham Group, Inc. filed its quarterly report for the period ending March 29, 2025. The report detailed the financial position of the company, which shows total assets of $824.6 million and total liabilities of $443.4 million, resulting in stockholders' equity of $381.1 million. The company reported a net loss of $5.96 million for the quarter, with net sales of $111.4 million slightly up from $110.6 million in the previous year. Operating expenses increased, primarily due to higher selling, general and administrative expenses. Additionally, an acquisition occurred where Latham Pool Products acquired Coverstar Central, LLC for $71.5 million, enhancing its offerings in the automatic safety cover segment. The acquisition was financed through cash on hand and accounted for under the acquisition method in accordance with FASB ASC 805.